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8517 Cedarbrook Drive Charlotte, NC 28215

4 Beds 4 Baths 2,559 sqft Built 1974

$300,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $117.23
  • 3 Days on Market
  • MLS # : 3702004
  • Updated Date : 01/30/2021 at 18:19
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,559 sqft
  • Baths : 3 full , 1 half
Listing Agent

Rinehart Realty Corporation

Listing Agent's Description

Looking for a home with separate living quarters with its own entrance & driveway? Look no further! There are mulitple living spaces in this home, a particular owner favorite is the lower level family room w/ masonry gas fireplace & built-in shelving. It has a newly renovated kitchen w/new white cabinets, granite countertops, white herringbone tile backsplash, new lighting & newer stainless appliances. The main level has gorgeous wide plank flooring. 2020 HVAC & new lower level flooring. The upper level entails 3 BR's/2 full baths which includes the owner's ensuite. The lower level 2nd living quarters has access to the screen porch a perfect place to relax. Enjoy the great outdoors from the freshly painted expansive deck with firepit and a view of the large spacious back yard with mature trees. This is an excellent location on a 0.51 acre homesite, w/easy access to I-485, major shopping, Reedy Creek Park and UNC-C is also a short commute. Book your showing today!

SEE MORE

MARKET HIGHLIGHTS

  • Corporate Fortune 500 headquarters: Bank of America, Lowe’s, Duke Energy, Nucor, Family Dollar Stores, Sonic Automotive, Domtar
  • #3 fastest-growing big city in US with more than 15,000 people added in 2017 (US Census, 2018)
  • Charlotte metro has 65.8% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • Charlotte attracted more than $325 million in capital investments in 2018Q2 (Meckelenburg county, June 2018)
  • Charlotte metro's economy is worth $181 billion in Gross Metro Product and projected to grow to $192 billion in 2019 (USMayors.org, 2018)
  • #1 Millenial Moving destination city (Smart Asset)

PRICE & RENT TRENDS

Neighborhood: Bradfield Farms

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230kPrice in $113k235k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Bradfield Farms

NeighborhoodNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8421518

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
J.h. Gunn Elementary School Primary Regular 695 42 2
Albemarle Road Middle School Middle Regular 1,198 64 2
Rocky River High School High Regular 1,710 90 3

J.h. Gunn Elementary School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 42
2
GreatSchools Rating

Albemarle Road Middle School

  • Education Level: Middle
  • # of students: 1,198
  • # of teachers: 64
2
GreatSchools Rating

Rocky River High School

  • Education Level: High
  • # of students: 1,710
  • # of teachers: 90
3
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,042
Property Tax -$262
Property Insurance -$75
Property Management Fees -$119
CASH FLOW
$132

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$300,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 8.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$27,123

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,630

    LIST RENT
  • $0.64

    LIST RENT PER SQFT
  • $1,785

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6303$1,6504$1,7505$1,750
$1,750
RENT COMPS ANALYSIS
  • 8517 Cedarbrook Drive Charlotte, NC 2
    • 4 beds 4 baths ∙ 2,559 Sqft ∙ Built 1974 4 beds 4 baths ∙ 2,559 Sqft ∙ Built 1974
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.64
    •  
  • 7043 Agava Lane Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,450 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,450 Sqft ∙ Built 2016
    LEASED 10/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.65
    •  
  • 6011 Timbertop Lane Charlotte, NC 3
    • 3 beds 4 baths ∙ 2,366 Sqft ∙ Built 2004 3 beds 4 baths ∙ 2,366 Sqft ∙ Built 2004
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.70
    •  
  • 4213 Stockbrook Drive Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2020
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.73
    •  
  • 4225 Stockbrook Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2020
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.73
    •  
PROPERTY LISTING DETAILS
Jamie Leggett
1.704.650.6345
Rinehart Realty Corporation
BESbswy